🔴 S&P 500 ETF (SPY) is trading 0.3% down as hotter-than-expected CPI raises rate-hike concerns

SPY is trading at $767.15 (-0.3%) pre-market versus $769.60 at the October 14 close, as hotter-than-expected September CPI raised rate-hike concerns.

• September headline CPI was 3.7% year over year versus 3.6% expected; core CPI was 2.6% versus 2.5%.
• Treasury yields climbed, pressuring equities. The S&P 500 fell 1.1% on October 14; the Nasdaq fell 1.9%.
• Technology and semiconductor weakness amplified the decline; Asian markets sold off as investors focused on higher borrowing costs for AI-related stocks.